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Determining the process of bankruptcy

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Reference no: EM131065958

A bankrupt trader owed £87,500 to her creditors, of which £28,100 was secured against assets.

The assets of the business raised £52,500, out of which £4,204 was paid in fees during the process of bankruptcy.

(a) Calculate the ratio of assets, before fees, to liabilities, in its simplest terms

Reference no: EM131065958

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